NOLA Real Estate Market Reports

Walnut Bend | New Orleans West Bank Real Estate

Walnut Bend Home Sales and Prices

After a recovery of sorts in 2012 and 2013, prices are down significantly in Walnut Bend this year. As of the end of November 2014, the median sales price in the West Bank neighborhood stands at $90,300. This is just slightly above the 10 year low of $90,000 in 2011.

What’s pulling down the prices?

In a nutshell, it’s condition. More than half of the homes sold this year have been in Average or Fair condition – indicators that updates and/or renovations are needed on the properties. For homes in Excellent or Very Good condition, median prices are over $175,000 this year.

  • High sale price 2014 = $235,000
  • Low sale price 2014 = $42,500
Walnut Bend median home prices 2004-2014

Walnut Bend median sale prices – data provided by GSREIN

 Number of Homes sold in Walnut Bend

  • Homes sold 2013 = 10
  • Homes sold as of November 2014 = 13

Due to the condition of homes sold this year, cash has been used in almost 50% of the sales – generally an indication that investors are grabbing properties to renovate and flip. Keep an eye out for remodeled homes coming on the market next year as the improvements are completed.

Walnut Bend number of homes sold 2004-2014

Walnut Bend | Information provided by GSREIN

 

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